According to Digital Foundry the console is real and Sony's research and development labs already have prototype devices.

It seems unlikely that it will be capable of full 4K gaming. The price would be one issue and space would be another. Even as microprocessors become smaller and smaller it wouldn't be easy to fit everything required into a console sized box.

Another problem would be the PS4's huge player base. The 35 million people who currently own a PS4 may feel hard done by if the console they've just bought becomes prematurely obsolete.​What an upgraded machine could offer though is enhanced media capabilities and a resolution that is higher than the current gold standard of 1080p. Even if it doesn't quite hit 4K. With the ever increasing popularity of streaming services like Netflix this wouldn't be a bad move.

It's not uncommon for newer versions of consoles to be released during a generation. The PS4K could be a slightly boosted 'Slim' or 'Elite' edition. Whilst you could benefit from upgraded media playback it wouldn't be a necessity and others wouldn't feel left behind.

With the release of PSVR just a few months away, could Sony be planning on offering both in a bundle? It would certainly entice those who don't own a PS4 but are interested in virtual reality.